$AVAX rebounds to 7.68—this is the ceiling. In the spot order book, selling the wall is one-tenth thicker than buying the wall. Prices smashed through the 20/50 moving averages in 15 minutes. The 4-hour chart determines exhaustion. This bullish wave is at the end of the road—now it’s only fit for shorting. On the futures side, passive sell orders actively press down on buy orders; the buy-side share is down to only 43.3%. Open interest has dropped into the bear_strong quadrant. Every rebound is just catching the falling knife. Short directly at 7.60, targets 7.27 / 6.96 / 6.23, stop-loss at 8.33.